Average diesel prices lowest in more than six years

By Land Line staff | Monday, December 07, 2015

The average price of a gallon of on-highway diesel decreased 4.2 cents from last week to $2.379 per gallon for the week ending Monday, Dec. 7. This marks the lowest nationwide average since June 1, 2009, when diesel prices were $2.369.

Diesel price averages went down in all 10 regions in the U.S., according to the Energy Information Administration. The largest average decrease was in the Midwest region, where prices at the pump dropped 6.3 cents per gallon. Prices were down 1.2 cents in the New England region, the smallest decrease in the nation.

Following are the average prices by region as reported by the EIA:

U.S. – $2.379, down 4.2 cents

East Coast – $2.413, down 4.2 cents

New England – $2.515, down 1.2 cents

Central Atlantic – $2.542, down 2.5 cents

Lower Atlantic – $2.295, down 6 cents

Midwest – $2.348, down 6.3 cents

Gulf Coast – $2.232, down 2.2 cents

Rocky Mountain – $2.410, down 4.1 cents

West Coast – $2.603, down 2.1 cents

West Coast less California – $2.477, down 3.3 cents

California – $2.704, down 1.3 cents

According to ProMiles, the average retail price at truck stops was $2.319 on Monday morning, a 4.2-cent decrease from last week.

ProMiles, the software company that maintains the websites ProMiles.com and TruckMiles.com, continues to offer its own weekly fuel price information. The company’s fuel price data are presented in the same format used by the EIA in the agency’s weekly reports. The prices include a national average as well as regional averages, and comparisons to the previous week and the previous year.

A key difference between the EIA and ProMiles reporting is the type and number of fueling stations the company surveys in order to calculate its averages. While EIA surveys 400 truck stops and convenience stores nationwide, ProMiles uses its direct feed from thousands of truck stops to develop its averages.

TruckMiles.com listed the daily average price for Monday at $2.392, with truckers in Washington State paying an average of $2.80 per gallon, the highest in the nation. Truckers in South Carolina are paying a national low of $2.108 per gallon, according to the site. No states in the Lower 48 states have been listed in excess of $4 per gallon at the pump since Dec. 4, 2014. For the first time this year, all 48 states in the contiguous U.S. have prices below $3.

In separate energy news, according to the New York Mercantile Exchange, light sweet crude (also known as West Texas Intermediate) for January delivery was trading at $37.85 at noon CDT on Monday, a $3.80 decrease from last Monday and a $2.12 decrease from its last trading price. The price of Brent crude oil for January settlement was listed at $40.92, a $3.69 decrease from last Monday and a $2.08 decrease from its last trading price.

According to Bloomberg, oil prices reached a six-year low after OPEC revealed it would not limit output to control prices, extending the existing global glut. AAA has indexed diesel prices at $2.390 for Monday, $1.116 cheaper than this time last year and 9.8 cents less than a month ago.